Alight, Inc. (NYSE:ALIT) Stock Has Average Price Target of $49.33

Alight, Inc. (NYSE:ALIT) has been assigned an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $49.33.

Several research firms have commented on ALIT. Citigroup reaffirmed a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a report on Thursday, August 20th. DA Davidson cut their price target on Alight from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alight in a report on Tuesday, August 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Alight in a research report on Thursday, August 20th.

Alight Trading Down 2.2%

Shares of NYSE:ALIT opened at $9.00 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.93. Alight has a 52-week low of $8.51 and a 52-week high of $64.00. The stock has a market cap of $242.38 million, a price-to-earnings ratio of -0.12, a PEG ratio of 0.19 and a beta of 1.69. The business has a 50-day moving average price of $12.40 and a 200-day moving average price of $14.18.

Alight (NYSE:ALIT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.15. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $497.02 million. Equities analysts predict that Alight will post 4.12 EPS for the current year.

Hedge Funds Weigh In On Alight

Several institutional investors have recently made changes to their positions in ALIT. Squarepoint Ops LLC raised its position in shares of Alight by 508.7% in the second quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company’s stock worth $1,021,000 after acquiring an additional 1,524,070 shares during the period. Allworth Financial LP grew its position in shares of Alight by 116.4% during the 2nd quarter. Allworth Financial LP now owns 64,767 shares of the company’s stock valued at $36,000 after acquiring an additional 34,844 shares during the period. Corient Private Wealth LP grew its position in shares of Alight by 984.0% during the 2nd quarter. Corient Private Wealth LP now owns 334,980 shares of the company’s stock valued at $188,000 after acquiring an additional 304,079 shares during the period. Angeles Wealth Management LLC increased its stake in shares of Alight by 1,948.1% in the 2nd quarter. Angeles Wealth Management LLC now owns 315,400 shares of the company’s stock valued at $177,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Alight by 15.3% in the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company’s stock worth $2,779,000 after purchasing an additional 656,746 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Alight Company Profile

Alight, Inc (NYSE: ALIT) is a cloud-based provider of human capital and financial management technology and services. The company helps organizations manage employee benefits, payroll, human resources, talent administration and financial well-being through digital platforms and related professional services.

Its offerings include employee engagement and benefits administration tools, payroll and workforce management solutions, and software designed to support health, retirement and other workplace programs.